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Month: August 2018

In Canada its heavy out and light in with some cutbacks | OutPut by Rig Lynx

August 3, 2018
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Canadian heavy oil is the weakest in almost five years, leading Canada’s largest producer to focus on drilling for lighter crude. Western Canadian Select’s discount to benchmark West Texas Intermediate widened $1.30 to $30.80/bbl Thursday, the biggest gap since December 2013, data compiled by Bloomberg show. Prices have tumbled amid constraints on pipeline and rail capacity out of

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July saw 8.1 Million tons of crude leave Brazil | OutPut by Rig Lynx

August 2, 2018
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Crude oil exports from Brazil hit an all-time high in July, at 8.1 million tons, which was a 50-percent increase on the year and a threefold improvement on the month, Reuters reports, citing government data. The reason for the increase was not detailed, but in June, Reuters notes, Petrobras used more crude for its refineries in order to increase

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Houston’s Lime Rock shells out $230 million for ConocoPhillips Barnett Shale play | OutPut by Rig Lynx

August 2, 2018
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ConocoPhillips said Thursday it is selling its stake in East Texas’ Barnett shale for $230 million to Houston-based Lime Rock Resources. The sale is part of Houston-based ConocoPhillips’ effort to reduce its ownership of assets that aren’t considered corporate priorities. Lime Rock is a private oil and gas investment firm focused primarily on onshore U.S. deals. Thus far in

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Rowan brings in 6 new contracts with Aramco, total of 18 years of backlog | OutPut by Rig Lynx

August 1, 2018
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Rowan Companies plc (“Rowan†or the “Companyâ€) (NYSE: RDC) announced today that ARO Drilling was awarded six three-year contracts by Saudi Aramco for Rowan jack-up rigs currently operating in Saudi Arabia. These new contracts will commence upon completion of the rigs’ existing contracts later this year. Tom Burke, President and Chief Executive Officer, commented, “Our partnership with Saudi Aramco in

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ENI receives green-light from Mexico to develop 100% operated Area 1 in Campeche | OutPut by Rig Lynx

August 1, 2018
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  Eni announces that Mexico’s National Hydrocarbon Commission (Comisión Nacional de Hidrocarburos, CNH) has approved the development plan for the discoveries of Amoca, Miztón and Tecoalli, located in Area 1 (Eni 100%), in the shallow waters of the Campeche Bay. This achievement occurs just 32 months after Eni signed the Area 1 Production Sharing Contract (PSC), won in

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“Booming†the Permian power grid | OutPut by Rig Lynx

August 1, 2018
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The oil and gas boom in southeastern New Mexico and West Texas is pushing electricity demand on Xcel Energy’s grid to all-time records. The regional transmission network delivered 6.15 gigawatts of electricity to customers on July 19, about 350 megawatts more than the company had predicted in peak demand on any given day for this year, and the

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